In today’s briefing:
- 4 Key Movers in TIGER Top 10 in June Reshuffle
- Asian Dividend Gems: Hyundai Elevator
4 Key Movers in TIGER Top 10 in June Reshuffle
- Korea’s battery sector got wrecked, crushing POSCO and Samsung SDI’s caps. Shakeup incoming: Hanwha Aerospace locks in, and Samsung Biologics is also a strong contender.
- Low pre-positioning leads to highly correlated moves on rebalance day; last June, KB and Shinhan got in while LG Chem and Energy got cut with similar impact, netting ~3% yield.
- Given the track record, it makes sense to trim the holding window on rebalance day and deploy a long-short strategy.
Asian Dividend Gems: Hyundai Elevator
- Hyundai Elevator Co (017800 KS)’s share price has been moving higher on the back of higher dividends and a beneficiary of the potential economic co-operations between North and South Korea.
- Hyundai Elevator currently has a dividend yield of 8%, which is one of the highest dividend yields among Korean companies with more than 2 trillion won in market cap.
- There have been some initial discussions about increased economic co-operation between North and South Korea. Hyundai Elevator is a key beneficiary in such a scenario.
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